The Ninth Circuit refused on Friday to revive antitrust multidistrict litigation from Netflix Inc. subscribers claiming the company plotted with Wal-Mart Stores Inc. to corner the online DVD sales and rental markets but upheld a $27 million settlement Wal-Mart reached with its own customers in the case.
A New York federal jury found Ira Rennert liable on Friday for contributing to Magnesium Corp. of America’s 2001 bankruptcy, ordering the billionaire industrialist and his firm to pay $118 million in damages for taking shareholder dividends that allegedly left MagCorp too weak to survive.
The U.S. Senate on Friday passed a “clean” $39.7 billion bill funding the U.S. Department of Homeland Security through 2015 after earlier resolving an immigration-related impasse, as the House of Representatives sought to buy more time for debate with a short-term DHS funding measure.
A New York federal judge on Thursday ordered former Michael’s Stores Inc. Chairman Sam Wyly and the estate of his late brother Charles Wyly Jr. to pay about $299.3 million to federal regulators for engaging in securities fraud, after the parties spent months battling over the amounts.
A co-founder of Level Global Investors LP sued Manhattan U.S. Attorney Preet Bharara in federal court Thursday, claiming that prosecutors falsely implicated him in an insider trading scheme to justify a fateful 2010 raid on the hedge fund.
The U.S. Securities and Exchange Commission on Wednesday punished nine former McGinn Smith & Co. brokers in connection with an alleged $125 million investment scheme.